One hundred percent of credit cards offered online by the leading bank card issuers continue to include practices that will be outlawed once legislation passed in May takes effect next year, according to a new report by the Pew Health Group’s Safe Credit Cards Project titled "Still Waiting: ‘Unfair or Deceptive’ Credit Card Practices Continue as Americans Wait for New Reforms to Take Effect".

The report also found that advertised credit card interest rates rose an average of 20 percent in the first two quarters of 2009, even as banks’ cost of lending declined. With the Federal Reserve currently developing rules to ensure penalty charges are “reasonable and proportional” as required under the Credit CARD Act, the report also includes policy recommendations for regulators. READ MORE

Obopay has announced its entrance into the online games market with the immediate availability of a mobile payment solution. With Obopay's mobile payment service, consumers can "mobilize" their credit or debit card by linking it to their mobile phone number, making it convenient to quickly purchase goods online. READ MORE

Among many other topics on yesterday's earnings conference call, Visa Inc. CEO Joseph W. Saunders spoke briefly about a new ecommerce solution being developed by Visa. He said Right Click by Visa was "an online shopping tool targeted to consumers that assists online shoppers." Saunders went on to say that it "assists online shoppers by offering the ability to browse multiple merchants and select items consumers are interested in looking at in one central location, making comparison shopping easier."

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